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Rice traders sign fresh export contracts after 3 weeks

Traders had stopped signing new export contracts amid a nationwide lockdown to curb the spread of coronavirus, as labour shortages and logistics disruptions hampered deliveries

twitter-logoReuters | April 16, 2020 | Updated 19:39 IST
Rice traders sign fresh export contracts after 3 weeks

Indian rice traders have resumed signing new export contracts after a gap of nearly three weeks, four industry officials told Reuters on Thursday.

Traders had stopped signing new export contracts amid a nationwide lockdown to curb the spread of coronavirus, as labour shortages and logistics disruptions hampered deliveries.

Export operations have resumed, said B.V. Krishna Rao, president of the Rice Exporters Association (REA).

"New contracts are getting signed but at a very low pace due to bottlenecks in the supply chain," Nitin Gupta, vice president of trader Olam India's rice business, told Reuters.

Also Read: Sugar production dips 20% to 24.7 million tonnes

Also Read: Coronavirus lockdown: Amartya Sen, Raghuram Rajan, Abhijit Banerjee suggest economic measures

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